Ten Great Reasons To Buy A Home

July 19, 2011 By Jennifer

Quality of life

– a home provides stability and security for you and your loved ones, and membership within a community of neighbors.
Pride of home ownership

– a home is a personal haven, a place that you can decorate, shape, and share over time because it’s yours.
Excellent affordability

– lower home prices combined with low interest rates means there are tremendous opportunities for buyers.
Historically low interest rates

– around 4 percent in the U.S. gives better purchasing power to those who qualify.
Appreciation potential

– your home investment can grow in value.
Equity buildup and debt pay down

– homeowners enjoy an average net worth of approximately $184,000 vs. $4,000 for renters.
Leverage

– where else can you buy an investment of this magnitude with 5-10 percent down?
Tax deduction advantages

– property tax and mortgage interest write-offs.
Tax exemption

– up to $500,000 per married couple or $250,000 per person on sale of a primary residence in the United States.
The real cost of renting

– at $800 per month, with the average 6 percent rental increase per year, you will pay $126,536 over a 10-year period but have zero ownership of the property.